Offered from Grade 10
Economics is a living subject in touch with contemporary issues and insights into the daily events reported in the news. South Africa is part of the global economy and as such needs minds that can compete with the best in the world. The study of Economics enables learners to understand their role in society better and enlightens them with regards to the career choices that can enable them to grow their wealth and contribute to society in general.
Wynberg Boys’ High School prides itself with the provision of extra learning resources to make understanding work easier for the students. The subject makes extensive use of technology to “flip the classroom” so that learners may enrich themselves from the comfort of their own homes. The subject has arranged to overseas trips in the past 3 years: The USA in 2015 and Europe and Britain in 2017.
A Word from the Head of Economics
Mr Michael Engelbrecht
The subject covers a wide range of work including the price mechanism, the public sector, international trade, inflation, employment and development economics. Economics is suitable for a student wanting to follow a career in commerce, such as a Bachelor of Business Science, but offers useful life skills to all. Economics is a tough academic choice that tests knowledge as well as the application of that knowledge. Students are required to be mathematically proficient and with an ability to express information by way of essays.
After studying the three year course, students will be able to:
- Analyse the use of resources efficiently to satisfy the competing needs and wants of individuals and of society;
- Understand the concept of monetary and real flows in an open economy within the confines of production, consumption and exchange;
- Develop skills to apply demand and supply, and cost and revenue analyses to explain prices and production levels;
- Understand reconstruction, growth and development, as well as a critical approach to initiatives for a fair distribution of income and wealth, human rights, and
- Acquire an advanced Economics vocabulary that will allow them to debate and communicate the essentials of the subject;
- Apply, in a responsible and accountable manner, principles that underlie basic economic processes and practices;
- Explore a variety of methods and strategies to analyse and explain the dynamics of markets;
- Collect, analyse and interpret production, consumption, and exchange data as well as other information in order to solve problems and make informed decisions;
- Understand human rights concerns, reflect on the wealth creation process, and engage in poverty alleviation;
- Analyse and assess the impact of local and global institutions on the South African economy, and explain economic events and forecast their consequences or predict likely future outcomes.